QuilmesSlo
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- Jul 27, 2020
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FWIW, I view stabilization as a positive -- the peso cannot collapse indefinitely without terrible ramifications.
He said the dollar would decline 30% against the Argentine peso if the Democrats won both WH and Congress. You scorned that prediction. Now that prediction has come true. You can print all the words you want. It doesn't make any difference. You were wrong. He was right.I mocked him and still will.
That the dollar blue has declined against the peso in the last few months because of the US election is laughable. It's a small illiquid market that can be moved by just a few individuals. High net people are using ccl for the wealth tax (sell dollars to get ccl rate and pay at official in pesos), ag exports, intervention by the government in the blue market, less pressure from travel and other arg specific factors.
Most in the markets here, expect it to pop again the second half of April. That won't be because the markets are so impressed with Biden, but will be because of Argentina specific factors, like what has been happening now.
Are the spending bills of 2020 (Trump) and 2021 (Biden) going to erode the value of dollar against legitimate stores of value like BTC and precious metals? Yes. Against the Argentine peso...haha
If you believe it's more than a temporary movement, then you should move a portion of your dollars in pesos to profit. Buy pesos, Argentine ADRs, etc
Usually this is at least 10% to 20%, and a lot more relevant to Argentines with money than who won the US election.
The dollar has now declined 30% against the Argentine peso. As Donald said would happen if the Democrats won the White House and Congress.
Many of you mocked that prediction - one poster in particular. Now here we are.
Good thing? In principle, yes. Sustainable...? Not so sure.This is actually a much better sign -- namely, the potential stabilization of the peso blue rate, which is a good thing for everybody.